(Reuters) – Harbinger Capital Partners is conducting a strategic review of its home appliance business Salton with an eye towards a possible sale or a refinancing of the company’s debt, the New York Post said citing sources. The U.S. hedge fund led by Phil Falcone is the controlling stakeholder of Salton, which sells appliances under […]
(Reuters) – Kohlberg Kravis Roberts & Co (KKR), CVC Capital Partners and TPG are interested in buying part of Anheuser-Busch InBev NV’s (ABI.BR) operations in Central and Eastern Europe in a deal that could be worth more than $2.5 billion, the Wall Street Journal said, citing people familiar with the matter. Anheuser was approached by […]
Kona Grill Inc. (Nasdaq: KONA) has said that Mill Road Capital's $27.9 million buyout offer undervalues the company. The $4.60 per share offer was double the company's closing price on the final trading day before the offer was announced.
Jefferies Capital Partners has agreed to buy a 30.4% equity stake in Carrols Restaurant Group Inc. (Nasdaq: TAST) from Madison Dearborn Partners and a subsidiary of Bahrain International Bank. The deal includes the sale of approximately 6.56 million shares, which have a current market value of around $40 million.
Intervention: The US State Department has asked Twitter not to undergo its planned service upgrade during the daytime hours in Tehran, and Twitter decided to delay the upgrade. (Reuters) Wall Street Gets Poetic: A hedge funder has penned a poem titled, "Green Shoots." Read it at Deal Journal. Is the SEIU To Blame? The villain in the remake of "The Taking of Pelham 123" is a private equity pro! It's a change from the original 70s version, since private equity wasn't exactly around then. (Dow Jones) Queens University B-School: Looking for more team players less divas. (BusinessWeek) Remember MBOs? What about FMBOs (Former Management Buyouts)? The former CEO of Children's Place Ezra Dabah (ousted in 2007 because of violating conduct codes) is still trying to buy the company. What about the children? (Dealbook)
NEW YORK (Reuters) – Carlyle Group CYL.UL and Blackstone Group LP (BX.N) are leading an investor group that is bidding to acquire First Republic Bank, a private banking unit of Bank of America Corp (BAC.N), Bloomberg News said on Tuesday, citing three people familiar with the matter. The private equity firms may partner with First […]
Tomorrow, President Obama will announce his proposal for financial regulation reform, which is expected to include elimination of the Office of the Thrift Supervision. So will the new financial regulations affect private equity? Technically, they won’t. Indirectly, they will. The Office of the Thrift Supervision (OTS) is the agency known for being more lenient on private equity investments in banks. It’s the agency responsible for approving acquisitions of both Indymac and BankUnited by consortiums of buyout firms. With the elimination of the OTS, it’s possible that approval for these types of transactions could fall to the Fed, which currently regulates bank holding companies. Notably, the Fed has yet to approve a bank buyout by private equity.
NEW YORK (Reuters) – Initial signs point to a long, drawn-out legal battle in bankruptcy court for Extended Stay Hotels, the 680-property hotel chain bought in 2007 for $8 billion by a firm little known to the industry at the time. Extended Stay won interim court approval on Tuesday to use cash against which creditors […]
CONROE, Texas (Reuters) – Peter Huntsman never would have agreed to sell the $4.5 billion chemical company founded by his father if he thought the banks funding the deal could wiggle out of their commitment, the executive told a Texas court on Tuesday. “This is about certainty,” Huntsman, president and chief executive officer of Huntsman […]
Huntsman Gay Global Capital is a new fund in deal-doing mode during a painfully slow time for buyouts. How is the firm approaching the deal market? We’re busier now than we were a year ago. Right now M&A is more event-driven with business owners still out there wanting to diversify risk and take chips off the table. It seems sellers expectations are finally beginning to moderate on price a bit. In this unique environment,